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Agenda Packets - 1986/04/28
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Agenda Packets - 1986/04/28
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Last modified
3/31/2025 3:35:56 PM
Creation date
3/31/2025 3:35:56 PM
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MV Commission Documents
Commission Name
City Council
Commission Doc Type
Agenda Packets
MEETINGDATE
4/28/1986
Description
Regular Meeting
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A- of Ucrember 1984. the rtaeplption date Of the prugram, 977 of <br />the Fhase l l 1 undo had been t-WI1Nl Ll c d. <br />Pltas:e t l Eper-Sly lrtst&I lgteitt Logpj <br />Trt ms <br />It t/4': lnitseni. rate <br />- No upper Income limits <br />10 yeer repavment L.?rm <br />simple liOr..rest loan <br />- Mit.lrtntm loon amurtnt 98S,- <br />Ma.+imum LOAtI amcmntt {( }q0 per unil, up to tolal of •15.000 <br />per 4 unit buildinq <br />- Loan funds diebursed upon satisfactory completion of rtorl. <br />Eligibility <br />- Owner occupied 1--4 runt bulldinys <br />- Eligible imprravwments include recommendations made by an <br />energy audit <br />- Property must be located in St. Faul <br />I lnderwri ti ny <br />- Applicdt,l. must meet 40% debt to income ratio <br />- Stable credit rating <br />- Minimum of 10% equity in pr-uperty <br />- All InPos are sprored <br />- All Wool- are insured Aga11I5t defoult <br />
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